AM Gold Announces 2011 Exploration Program at Pinaya
07 Février 2011 - 3:30PM
Marketwired
AM Gold Inc. (TSX VENTURE: AMG)(FRANKFURT: AMX) ("AM Gold" or the
"Company") is pleased to announce the commencement of the Company's
2011 exploration program at its 100% owned Pinaya Gold-Copper
Project in southern Peru. On January 28, 2011 the Company received
approval of its application for an exploration permit for the La
Porfia and Don Pedro 2000 concessions located in the Santa Lucia
District, Lampa Province, Puno Department, Peru.
An aggressive exploration program has been planned for 2011 at
Pinaya which will focus on resumption of drilling operations within
the resource area as well as the exploration of encouraging
porphyry-related targets at the south end of the property. These
new targets were recently identified during a three-week field
reconnaissance program undertaken in December, 2010.
AM Gold geologists will initiate a heavy mineral stream sediment
sampling program mid-February at 60 drainage points covering
approximately 6,000 hectares at the southern end of the Pinaya
property. The results of the initial sampling program are
anticipated to generate a second phase of 50 to 60 stream sediment
samples to further narrow the scope of area for subsequent priority
testing by soil sampling (2,500 to 3,000 samples). A portable XRF
unit will be utilized to rapidly assess collected samples. Priority
target areas will also be simultaneously covered by magnetic
survey. The combination of soil sampling and magnetics have
historically been very effective tools for defining drill targets
at Pinaya.
Diamond drilling is scheduled to commence at the resource area
by April 2011. Additional target drilling based on results of the
soils sampling and geophysical programs south of the resource area
could begin as early as May 2011. A total of up to 10,000 meters of
drilling is planned for the year pending results of preliminary
target evaluation programs at the southern end of the property.
Brian L. Cole, P.Geo., has reviewed the technical disclosure
contained in this news release and is a Qualified Person within the
meaning of National Instrument 43-101 - Standards of Disclosure for
Mineral Projects.
About AM Gold Inc.
AM Gold Inc. is a publicly held resource company based in
Vancouver, Canada. The Company is listed on the TSX Venture
Exchange under the symbol "AMG" and is quoted on the Frankfurt
Exchange under the symbol "AMX". The Company is focused on creating
shareholder value through the development of the Company's flagship
gold and gold-copper projects in the Yukon and Peru while building
a portfolio of quality pipeline projects in North and South
America. The Company's Red Mountain gold property is located in
central Yukon Territory approximately 55 kilometres northwest of
the community of Mayo in the Tintina Gold Belt. AM Gold holds an
80% interest in Red Mountain with an option to acquire 100%
ownership of the 52 contiguous claims that constitute the property
and cover approximately 1,168 hectares. AM Gold's Pinaya
gold-copper project is located approximately 775 kilometres
southeast of the city of Lima, Peru in the Tintaya Gold Belt. The
Company maintains 100% ownership of 35 mining concessions covering
the 19,200 hectare Pinaya land position. AM Gold's corporate
offices are located at Suite 305 - 369 Terminal Avenue, Vancouver,
British Columbia, V6A 4C4 (phone: 604-646-0067).
On behalf of the Board:
John Fiorino, CEO
AM GOLD INC.
This news release has been prepared by management. This document
contains certain forward-looking statements which involve known and
unknown risks, delays, and uncertainties not under the Company's
control which may cause actual results, performance or achievements
of the Company to be materially different from the results,
performance or achievements implied by these forward-looking
statements. We seek safe harbor.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Contacts: AM Gold Inc. Murray Caruth 1-604-646-0067
1-604-692-0117 (FAX) mcaruth@amgold.ca www.amgold.ca
AM Gold Inc. (TSXV:AMG)
Graphique Historique de l'Action
De Juin 2024 à Juil 2024
AM Gold Inc. (TSXV:AMG)
Graphique Historique de l'Action
De Juil 2023 à Juil 2024